Fidelity: Long-Term Bitcoin Holders Are Now the Main Sellers
Chris Kuiper, vice president of research at Fidelity’s digital asset division, said on Nov. 12, 2025 that people who have held Bitcoin for a year or more are likely the main group selling right now. The observation points to a change in seller composition — moving from short-term traders to longer-term holders — which Fidelity identifies through on-chain age and flow metrics.
Why it matters: selling from long-term holders can remove an important support layer for price and signal either broad profit-taking after prior gains or a longer-term reassessment of risk. Traders and institutions may see increased volatility if those coins hit exchanges, and market participants will be watching exchange balances and funding rates for signs of sustained pressure or capitulation.